Nisa Investment Advisors LLC Grows Stock Holdings in McKesson Co. (NYSE:MCK)

Nisa Investment Advisors LLC increased its stake in McKesson Co. (NYSE:MCK) by 104.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 96,348 shares of the company’s stock after buying an additional 49,286 shares during the quarter. Nisa Investment Advisors LLC’s holdings in McKesson were worth $54,978,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC increased its holdings in shares of McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in McKesson during the 3rd quarter valued at about $29,000. RPg Family Wealth Advisory LLC bought a new stake in McKesson during the 3rd quarter valued at about $31,000. ORG Wealth Partners LLC purchased a new position in McKesson in the third quarter worth about $40,000. Finally, Bruce G. Allen Investments LLC lifted its stake in shares of McKesson by 51.9% in the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after buying an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE:MCK opened at $585.51 on Wednesday. The stock has a 50-day simple moving average of $594.65 and a two-hundred day simple moving average of $561.08. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The firm has a market capitalization of $74.32 billion, a PE ratio of 30.32, a P/E/G ratio of 1.28 and a beta of 0.52.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm’s revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the business earned $6.23 EPS. Equities analysts forecast that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a $0.71 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.49%. McKesson’s payout ratio is presently 14.71%.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Leerink Partners dropped their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Bank of America decreased their target price on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Morgan Stanley lifted their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average price target of $646.14.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.